Mackenzie (3:09)

take questions from the room, not from the media.

Narrator/Commentator (3:12)

And then asking the media to leave. So the now we know from people who were inside the room. Donald Trump then started cursing after kicking the press out. He said, these fucking courts, you know, I don't like to curse. I'm just giving you the receipts of what actually happened. These effing courts. These effing courts is what he said over and over again. CNN got the scoop there of what went down. Let's just play this clip of what happened inside this governor's meeting in the White House after Donald Trump learned that the Supreme Court struck down his tariffs against the world. He was melting down, apparently. He was sweating, his face was red and he just started like cursing, almost like he was going to cry. I heard it was incredibly weird. CNN has the scoop as well. Let's play this clip. Not this.

Podcast Host (4:01)

Yeah, Pamela, we still have no official reaction from the White House or President Trump. We are waiting. I am told that they are meeting, discussing how they are going to respond. But we have learned more about what happened in the room when President Trump was with those governors and he learned of the Supreme Court decision. Apparently the guff breakfast had been going well. They were working together. And then President Trump became enraged. He started ranting about the decision, not only calling it a disgrace, but started attacking the courts, at one point saying these effing courts, but using the actual language there. We know that President Trump does use expletives on quite often when he is enraged in particular. Now, this of course comes as this tariff policy. This could not be a bigger decision for President Trump. This could not be a bigger loss for President Trump. Not only is so much of his economic agenda based on these tariffs, so much of his foreign policy is based on these tariffs. He has used these tariffs as leverage in almost every meeting that he has had around the world. He has touted them as the most important part of the economic agenda. So clearly a huge loss. And he recognizes that today. Pamela. All right, Kristen Holmes.

Narrator/Commentator (5:08)

Now, earlier this morning, Donald Trump released the GDP data before it was officially released. It's again unlawful to leak that out. But Donald Trump posted this before the Supreme Court made the ruling striking down his tariffs against the world. Trump posted the Democrat shutdown cost the USA at least 2 points in GDP. That's why they are doing it in mini form Again, no shutdowns. Also lower interest rates. Too late. Powell is the worst president. DJT again ranting and raving like a lunatic this morning. And the Supreme Court said, you don't have the power under this 1977 law I EA to impose tariffs against the world. That belongs to Congress. Article one, Section eight, the power of taxation. It's the power of Congress. And they did not. In this statute called ipa, which talks about emergency powers to regulate imports and exports, it doesn't even mention the word tariffs in ipa. They didn't give you this power to tariff the world by you declaring unilaterally that there's a drug war emergency against Canada and Mexico or that trade deficits, by the way, which are increasing right now, now since Donald Trump imposed tariffs against the world, not decreasing, they're increasing, but saying that that constitutes an emergency. And then you're going to say you can tariff the world. The Supreme Court in a six to three decision, said absolutely no way. Go. And you could watch the full analysis that Michael Popo and I did. The video we dropped on our YouTube channel before this. Oh, by the way, while I got you here, we are so close to 6 million subscribers. Can we hit 6 million subscribers today? You may think you're subscribed to this YouTube channel, but you may not actually be. Subscribe, double check and hit subscribe right now. Also, let's talk about that GDP falling below expectations. Fourth quarter GDP below expectations came in at 1.4% versus the 3% expected. And Trump regime officials were telling us that it may even come in as high as 5%, but it came in at 1.4%. Very, very disappointing indeed. Also, inflation, as measured by PCE, which is really a consumer index, consumer goods and how inflation's affecting consumers, came in hotter than expected, 2.9% versus 2.8%. And core PCE came in at 3% versus 2.9%, which was the expected. So now, after this Supreme Court ruling, Trump and his regime have to now pay back close to 200 billion, somewhere between 175 billion and $200 billion in tariffs that took from companies in the United States. It was never paid by countries abroad. It was always incurred. It's a tax on Americans. And companies here are passed on to the consumers. The consumers likely won't see any relief from the prices going up on their goods. But the companies that had to increase the prices, they're now going to go to Commerce and Treasury and say, give us our money back. And now it's going to be total chaos in the Trump regime as they've got to pay back the money they unlawfully stole. Who would have thought that a felon like Donald Trump, a sexual abuser like Donald Trump, a fraud like Donald Trump, would Go and steal money unlawfully. Huh? Who could have predicted that? One right there. Monica Crowley, a former Fox host who Donald Trump made an ambassador of protocol, kind of like a spokesperson at the White House. She issued the following statement. President Trump has plenty of tools in the tower of toolbox. Don't be a panickin. Trust Trump. What a weird criminal cult these people are who continue to cover up the Epstein files. And don't think for a second that on the Midas Touch Network, we're going to forget the fact that the Epstein class cabal resides in the White House and they're currently covering up a child sex trafficking ring by also not producing 50 terabytes or so of documents, millions of documents that they're still not disclosing them. That's one of the reasons why we're also leading the boycott against the Trump State of the Union. The people. State of the Union will be right here on the Midas Touch Network. We have dozens of members of Congress and senators who will be speaking and not showing up to the State of the Union, but they'll be here with the Midas Touch Network. So what were other Trump regime officials? You had Kevin Hassett, Trump's national economic adviser, blaming Democrats for the 1.4% GDP growth. These guys can take no accountability. It was the Democrats fault. It's Biden's fault. It's this, it's that, it's wah, wah, wah. Y' all are in charge. Y' all are in charge. Act like freaking leaders for once. You know what? Maybe just act like grownups, because it will be major progress for you to simply act like adults. You know, frankly, children behave better than all of y'. All. Here. Play this clip of HACCP GDP up

Kevin Hassett (10:30)

only 1.4% on an annual basis, fourth quarter. That's not what President Trump wants to see, is it? Well, you know, the Democrat shutdown took about 2% off the number according to the Council of Economic Advisers. So if you're really thinking about, like, what trajectory is the economy on right now, it's way north of three. And if you look at the average of the three quarters since President Trump took office, you know, abstracting from the first quarter, when it was, you know, mostly Joe Biden's quarter, then we're looking at growth of 3.2% on average over the year. And so I think if you add back in the government shutdown number, which will bounce back in the first quarter, I think you could say that Trump's economy is running pretty close at 3%. Okay. At the top. Well, I just don't want to talk

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Narrator/Commentator (12:53)

Then Hassett tries to spin the hotter than expected inflation as saying yeah, something. Something about Joe Biden. Joe Biden's fault. Here, play this.

Kevin Hassett (13:02)

Just I want to talk about inflation. The PC that picked up a little bit. That's not a great sign, is it? Well, I mean it's just, it's just one month. The consumer price index is headed right back towards the target. If we look at the details, there are a heck of a lot of things that are growing in the ones now. One of the things that happens, Stu, when you've got runaway inflation like we had in the Biden years is Kind of the price of everything is going up. And what we're seeing now is that there's a whole bunch of variation in what's going up and what's going down there. A whole bunch of things below the target. And that's exactly what you see as the Fed reaches its target. At the top of the hour, the

Narrator/Commentator (13:39)

supreme next state regime media asks Kevin Hassett about, you know, what do you say to those, the economists, you know, you claim that the economists who said that most of the tariffs are being passed on to consumers, you said that the economists who prepared that report from the New York Federal Reserve, these professional economists who wrote a study with data and detail and evidence showing that tariffs are passed on to consumers, which we all know they are, you said they deserve to be disciplined. What do you mean by that? Play this clip.

Advertisement Voice (14:08)

Good.

Kevin Hassett (14:09)

I gotta go to this New York Fed study. This is about. Oh yes sir, you know where I'm going here. The study said 86% of the tariff burden falls on American businesses and American consumers. 86% falls on us. You say the economists who came up with the study should be disciplined. What's your issue with the study? Yeah, you know, you know, I probably got a little emotional when I, when I said that. And I regret if the people who wrote the study feel like I personally attacked them. That was certainly not my intent. The bottom line is that the Federal Reserve itself needs to have a policy where, you know, the extreme gravitas of the Fed should be used to talk about monetary policy and not to go willy nilly into every single political topic if they want to preserve their political independence.

Narrator/Commentator (14:54)

And by the way, don't we all remember when Howard Lutnick said that the GDP in Q4 would be gangbusters? Remember he said we own it in quarter four, it's gangbusters. It's ours. We own it. Okay, well, you own it, but now it's the Democrats fault. Now, now, now it's. Anyway, here's the montage that our editor in chief Ron Philipkowski created. Here, play this clip.

Donald Trump (15:19)

Announces, in the fourth quarter of 2025, this economy is going to be humming. Okay, look, for the second quarter of 2026 to be amazing as all this money, okay? The Donald Trump economy, we own the economy. In the fourth quarter, we start to get, you know, we get shovels in the ground. I would say the first quarter of next year will be job after job at that factory after factory. They're coming and they're coming now. So I would say one year from today, you're going to see, you are going to see job numbers in the second half of next year that are going to blow you away. And I would say the first quarter of next year will be the best quarter for the golden age of America. It's coming now. You feel it now.

Narrator/Commentator (16:05)

What's going on.

Donald Trump (16:06)

So the economy that Donald Trump owns starts at the end of this year. You can't get think of the employment. You look at next year's employment, it is going to explode. All these factories.

Narrator/Commentator (16:19)

Then you had Maria Bartiromo who claimed that she didn't even believe the GDP numbers. I'm skeptical that these are the numbers. Trump said it was coming in so hot. He said we've never been hotter before. So if Trump said we've never been hotter before, how do you telling me that Donald Trump lies? Yes, Maria Bartiromo we're telling you that the guy, the sexual predator, the felon, the fraud, the bankrupter of most of his businesses in life, the demented individual who goes on stage and starts rambling and not completing full sentences. Yeah, the guy who's covering up the Epstein files. The guy who says he's been vindicated in there. Yeah, that guy. Not a good guy. Bartiroma. Not a good guy. Bartiroma. Here, play this clip of her.

Podcast Host (17:14)

I mean I'm skeptical too because you had a close to 5% number just a few months ago and now you're talking about 1.4%. You know, markets are on the move. The dow is down 100. But if you have a slower economy and you have what not indicate that the Fed would want to lower interest rates, although the PC being hotter than expected, perhaps it changes the Fed's directory. What does this say to the Fed in terms of rate cuts?

Narrator/Commentator (17:46)

Jason, it's, it's a great question but and of course there's going to be new leadership and I think again there's going to be more, not to get too technical about this, but there may be more of a focus on the balance sheet rather than rates. And there's of course a connection but it's not, it's not perfect connection. And I think it's, I think it's well in time that we do that I think we should lower rates but also maybe tighten up the balance sheet of that too.

Neil Patial (18:13)

Right.

Podcast Host (18:13)

And that's something Scott Bessant has.

Narrator/Commentator (18:15)

And then finally we have Neil Cat Dayell along with his co counsel who are responsible for arguing this case in the Supreme Court. Here's their statementless play.

Podcast Host (18:24)

Neil Patial joining US he argued against the tariffs in this case before the Supreme Court and lead plaintiff, Sarah Albrecht. Neil, thank you so much for joining us. Sarah, thank you for joining us. Let me get both of your reactions. Neil, I'll start with you.

Neil Patial (18:41)

Yeah, so we, we're, we have a couple of statements. We won't be able to take questions. These are our first remarks. We've just seen the decision, just heard it in the Supreme Court. But today, the United States Supreme Court stood up for the rule of law, stood up for Americans everywhere. Its message was simple. Presidents are powerful, but our Constitution is more powerful still in America. Only Congress, the chief justice writing for six justices, said only Congress can impose taxes on the American people. And that's what tariffs are. Tariffs are taxes. I am so grateful for the leadership of the Liberty justice center and in particular the brilliant woman standing next to me, Sarah Albrecht, who masterminded this case, who took this case when so many others were afraid to stand up for the rule of law, who was dauntless in our defense of the Constitution. I'm also grateful to the five small business owners who stood up against these unjust, unconstitutional taxes. By taking a stand, they have paved the way for relief to tens of thousands of American businesses and hundreds of millions of Americans across the country.

Narrator/Commentator (19:55)

Folks, there you have it. Let me know what you think. Hit subscribe. Let's get to 6 million subscribers today. That's the challenge. You may think you're subscribed, but you may not actually be subscribed. So double check. Hit subscribe to this channel now. Thanks so much.

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